Bharti Airtel’s net profit surges 168 pc to Rs 3,593 crore in Q2

Bharti Airtel’s net profit surges 168 pc to Rs 3,593 crore in Q2October 28, 2024New Delhi, Oct 28 (IANS) Riding on its India and Africa business, Bharti Airtel on Monday reported 168 per cent increase in net profit to Rs 3,593 crore in Q2 FY25, from Rs 1,341 crore in the year-ago period.Bharti Airtel posted quarterly revenue at Rs 41,473 crore – up 12 per cent year-on-year, driven by strong momentum in India and sustained constant currency growth in Africa.Its India business clocked quarterly revenues of Rs 31,561 crore – up 16.9 per cent, “backed by improved realisations in mobile segment and sustained momentum in Homes and Airtel Business.”The average revenue per user (ARPU) for the company’s India mobile segment went up to Rs 233, up from Rs 203 a year ago.“We delivered another quarter of solid performance, with India revenue growing 8.7 per cent sequentially. Africa maintained strong revenue growth momentum as well with 7.7 per cent constant currency growth,” said Gopal Vittal, MD and CEO.As part of a structured succession process, Vittal, who led the company as Managing Director and CEO for the last 12 years, is being appointed Executive Vice Chairman as part of a structured succession process. Shashwat Sharma, currently Chief Operation Officer (COO), will be appointed MD and CEO of Bharti Airtel on January 1.“Our focus on winning quality customers and driving premiumization has helped us add 4.2 million smartphone customers. We continue to expand our Wi-fi coverage with FWA offerings to over 2,000 cities,” said Vittal.While mobile services revenues in India was up 18.5 per cent YoY, led by tariff repair, strong smartphone data customer additions and underlying mix improvement, Airtel Business revenues went up 10.7 per cent, led by growth in domestic portfolio.“Homes business continues on growth momentum as revenues were up 17.3 per cent YoY led by strong customer additions,” said the company.Digital TV posted revenue of Rs 759 crore with customer base of 15.8 million.Bharti Airtel’s share ended marginally down by 0.16 per cent at Rs 1,663.35 on Monday.–IANSna/https://ians.in/detail/bharti-airtels-net-profit-surges-168-pc-to-rs-3593-crore-in-q2–20241028172131/